Some Marylanders May Qualify For Student Loan Debt Relief Tax Credit

BALTIMORE (WJZ) -- Some Marylanders may qualify for a tax credit to help them when they have student loan debt.

If you have at least $20,000 in student loan debt you could qualify.

In 2018, more than 9,494 Marylanders were eligible for student loan debt and the state awarded more than $9 million in tax credits.

Thousands Of Marylanders Receive Student Loan Debt Relief Tax Credits, $9M Total

To apply for the tax credit, complete and submit this application to the Maryland Higher Education Commission by Sept. 15th.

To qualify, you must maintain Maryland residency for the 2019 tax year, had at least $20,000 in student load debt and have at least $5,000 in debt remaining when you apply.

You must have a complete transcript from each undergraduate and graduate institution that you attended. Documentation from your lender showing the educational loans that qualify for the credit -- including, the name, address and phone number of the lender, account numbers, original balances, outstanding balances, the person responsible for repayment -- and a copy of your Maryland income tax return for the most recent tax year.